According to the UK’s Office of National Statistics, there were approximately 4.25 million self-employed workers in October 2013. Whilst independence is one of the biggest advantages of being self-employed, it also causes problems, and not least with regards to saving for a pension. The state pension With a current worth of GBP 110.15 each week, […]
Illinois’ pension reform faces fresh problems
January 14, 2014
Late last year, Illinois governor Pat Quinn signed a bill overhauling the current process for how pensioners receive their funds. Before enacting this law, retirees would receive a yearly 3% increase to their stipends in line with inflation and the increased cost of living. These will be reduced come the 1st of June. However, many […]
Planning for a better retirement in your 20s, 30s, 40s, 50s, and 60s
October 3, 2013
Last month, research from Prudential reported over a quarter of British retirees are likely to downsize their house to fund their retirement. In order to avoid such drastic measures, you should start planning for your retirement as early as possible. Even if you can only afford to save a small amount, the earlier you start […]
QROPS Disadvantages
September 28, 2013
Qualifying Recognised Overseas Pension Schemes (QROPS) allow those no longer living in the UK to transfer their pension into an overseas fund – and enjoy significant benefits. These include taking far greater control of investments, and having the ability to pass on up to 100% of the fund to loved ones upon death (i.e. without […]
High Earners Who Will End Up As Poorest Pensioners
September 17, 2013
Many of Britain’s highest earners will end up among the nation’s poorest paid pensioners because they are not saving enough for retirement. The warning comes from pensions minister Steve Webb, who says official figures show 6 million professional high earners are not saving enough money to maintain their lifestyles when they give up work. The […]
QROPS, Seek International Financial Advice
August 14, 2013
Due to the obvious paybacks, many individuals transfer their pension into a QROPS when leaving the UK. Yet with the myriad of issues to deliberate on – from DTAs to their financial goals – it is imperative they seek advice from an international IFA. Because of the market’s intricacy, UK-based and other non-international IFAs are […]
HMRC QROPS List FAQ
July 3, 2013
HM Revenue and Customs QROPS list is a public resource that tells investors and pension administrators if a Qualifying Recognised Overseas Pension Scheme is recognised as a bona fide scheme by the tax authority – with some reservations. HMRC explains how the list works in a manual for tax inspectors that is also freely available […]
Six Steps To Choosing The Right Currency Broker
June 27, 2013
Anyone switching Sterling overseas has a choice of several services, including banks, money transfer services and specialist brokers. Many advertise no commission and cheap rates, so comparing features is not always easy – and the cheapest is not always the best. So to help choose the right foreign currency exchange deal, consider these six key […]
Tax Advisers Don’t Want To Know US Expats
June 26, 2013
US expats are fast becoming the untouchables of the financial world as tougher regulation limits who can give them advice and handle their money. Banks have already pulled the plug on many US expat accounts around the world due to the impositions required by the Foreign Account Tax Compliance Act (FATCA). Now US based financial […]
